This has been the funniest not your key not your coin story I have ever heard. It is about an Indian exchange Mudrex that stopped crypto withdrawal and told people that withdrawal will resume on the 28th of January. That is 2 weeks and 3 days before their customers can be able to withdraw their money. That will also be if nothing has happened to the exchange.
It's indeed a matter of not your key not your coin. This is a situation I have never heard of, that exchange will tell it's customers to wait till 2 weeks before they can withdraw. I guess this exchange is just know by India alone, not lie other regular exchange like kucoin, bitget, binance and many others. That's why it not advisable to keep coin on exchange but on non custodial wallet because if critical issues arises, it will make many people to lost their coin forever.
But someone told people should convert their coins to Indian rupee and withdraw Indian rupee. I do not know if Indians that are using the exchange will be able to withdraw to fiat.
I don't think if that exchange don't permit withdrawal, neither will they allow people to convert their coin to rupee or fiat. They will just need to wait till that speculated time frame.